9071-8776 Quebec Inc. Acquires Further Interest in DIAGNOS Inc.
November 5, 2020 (Source) — In accordance with regulatory requirements, Diagnos Inc. (“DIAGNOS” or “the Corporation”) (TSX Venture: ADK) (OTCQB: DGNOF), a leader in early detection of critical health issues through the use of its FLAIRE platform based on Artificial Intelligence (AI) announces that 9071-8776 Quebec Inc. (the “Acquiror”) has acquired 3,076,922 common shares (“Shares”) of the Corporation pursuant to an exercise of 3,076,922 stock warrants at a price of $0.13 per share on November 4, 2020, for a rounded consideration of $400,000. As a result, the Acquiror’s percentage of the Shares of the Issuer, on an undiluted basis, increased by 3.47%, directly and indirectly, since the last Form 62-103F1 was filed.
Immediately before the acquisition of 3,076,922 Shares, the Acquiror held, directly and indirectly, 4,706,139, or 7.65%, of the outstanding Shares of the Corporation, on an undiluted basis. Immediately after the acquisition of 3,076,922 Shares, the Acquiror holds, directly and indirectly, 7,783,061, or 12.04%, of the outstanding Shares of the Corporation, on an undiluted basis. The acquisition of 3,076,922 Shares did not have an impact on the number and percentage of the outstanding Shares of the Corporation on a partially diluted basis.
The Acquiror acquired the Shares of the Corporation for investment purposes only. The Acquiror intends to review, on a continuous basis, various factors related to its investment, including, but not limited to, the price and availability of the securities of the Corporation, subsequent developments affecting the Corporation or its business, and the general market and economic conditions. Based upon these and other factors, the Acquiror may decide to purchase additional securities of the Corporation or may decide to sell all or part of its investments.
The Corporation is also reporting that on October 23, 2020, the Acquiror disposed 2,000,000 Shares of the Corporation at a price of $0.50 per Share. Immediately before the disposal, the Acquiror held, directly and indirectly, 11,352,561, or 17.29%, of the outstanding Shares of the Corporation, on a partially diluted basis. Immediately after the disposal, the Acquiror held, directly and indirectly, 9,402,561, or 14.32%, of the outstanding Shares of the Corporation, on a partially diluted basis.
DIAGNOS is a publicly-traded Canadian corporation with a mission of early detection of critical health issues through the use of its Artificial Intelligence (“AI”) tool CARA (Computer Assisted Retina Analysis). CARA is a tele-ophthalmology platform that integrates with existing equipment (hardware and software) and processes at the point of care. CARA’s Artificial Intelligence image enhancement algorithms make standard retinal images sharper, clearer and easier to read. CARA is accessible securely over the internet, and is compatible with all recognized image formats and brands of fundus cameras, and is EMR compatible. CARA is a cost-effective tool for screening large numbers of patients in real-time. CARA complies with local regulations, is FDA cleared for commercialization in the United States of America, is Health Canada licensed for commercialization in Canada and is CE marking compliant in Europe.
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